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Fly News Breaks for January 17, 2017
FN
Jan 17, 2017 | 06:57 EDT
Needham analyst Alex Henderson upgraded Fabrinet to Strong Buy with a $56 price target saying shares have corrected over the last month due to profit taking and expects shares to benefit as investors focus back on company specific fundamentals. Henderson is modeling 26% revenue growth in CY17 and sees considerable upside with growth likely in the 30-40% vicinity and expects fundamentals to continue to improve over time.
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